Mainboard-listed Matex International, a manufacturer and supplier of speciality chemicals for the textile industry, has entered into a heads of agreement with Australian-listed coal producer, Blackgold International Holdings, in relation to the proposed acquisition of its wholly owned subsidiary, Blackgold Holdings Hong Kong, for a consideration sum of S$475 million.

Shares of the seven listed firms linked to the family of Ling Jihua fell yesterday as probes into the top aide to former president Hu Jintao prompted investors to cash out amid fears of a further slide.

Memstar Technology - a cash company after selling its membrane manufacturing business to United Envirotech - has entered into a US$420 million reverse takeover deal with the owners of Longmen Group, a China-based developer of unconventional natural gas.

The Singapore Exchange (SGX) has taken a fair amount of criticism for the way trading has deteriorated over the past year since the penny crash of October 2013, a situation not helped by two high-profile computer glitches in the past five weeks.

It would be somewhat unkind to conclude that this week’s market stoppage - the second in a month and third this year - is simply another dismal chapter for a market in malaise. But there is no denying that something is amiss. The numbers don’t lie.

Singapore Exchange (SGX) chief executive Magnus Bocker came out swinging at an hour- long press conference yesterday, explaining in painstaking detail what happened in the bourse operator’s latest “incident”, what it plans to do next, addressing whether he would step down from his job and apologising for good measure.

The apology and explicit acceptance of responsibility from Singapore Exchange (SGX) chief executive Magnus Bocker for Wednesday’s computer system breakdown was the first indication in many months that SGX is willing to concede that things are not at all right with many aspects of its business.

Supplier of piping system components to the energy and marine sectors, mainboard-listed CosmoSteel Holdings on Monday announced it has entered into a subscription agreement with Tokyo-listed Japanese steel trader Hanwa to raise S$15.3 million.